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Oct 5, 2012 4:00am EDT
that after the election you tilly get some kind of agreement sni? i was speaking to john mccain and he said don't expect noticing happen. you seem to think something can happen. why? >> i wake up pretty much every day and i update my probabilities on how likely that we'll go off the cliff. and i think that we won't. it's unmachblgable that this country as partisan as things are that policymakers wouldn't be able to come to some kind of an agreement to avoid knowingly letting things happen that will put us straight into recession. that is too high a price to pay for the inability to compromise and work this out. so the consequences of going off the cliff is that we would have very significant spending cuts and tax increases. things we need to do, but if not done smartly don't fix the problem. so there is so much reason not to have dumb policies kick in that would hamp harm the economt the policies have to start working together and they have to put together a package that won't fix the entire problem in that so-called lame duck session, but instead put in place a down payment. some amount of
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